- A crypto investor withdrew 174 ETH and acquired 2 trillion LADYS $0.0000001504.
- Later, the dealer offered the memecoins only for 73.5 ETH at $0.00000006142.
- Lookonchain shared the main points and warned its followers in regards to the dangerous nature of memecoins.
On-chain researcher Lookonchain uncovered current whale exercise by which the investor misplaced 100 ETH to the Milady LADYS memecoin. In line with the analyst, the dealer withdrew a outstanding variety of ETH value $321,000 to purchase an enormous variety of LADYS, which he then offered with a noticeable loss.
Lookonchain make clear the dangerous nature of memecoins, illustrating with the instance of a dealer who misplaced 100 ETH for a memecoin:
In line with the findings of the crypto investigator, the dealer withdrew 174 ETH from the crypto alternate Gate.io and acquired practically 2 trillion LADYS on the charge of $0.0000001504 on Might 12. Later, he offered these memecoins for simply 73.5 ETH on the charge of $0.00000006142.
At the moment, memecoin is buying and selling at a worth of $0.0000000673, marking an increase of 21.64% within the final 24 hours. LADYS’ 24-hour buying and selling quantity is $70,202,077, whereas its present market capitalization stands at $49,956,978.
Comparatively, the present worth of the main cryptocurrency by market capitalization rating that the dealer misplaced to LADYS is $1,798.26, with a 24-hour buying and selling quantity of $7,833,163,894. Evaluating the worth of the 2 digital currencies within the present crypto market is apparent sufficient to spotlight the depth of the loss suffered by the dealer.
It ought to be famous that the crypto group is presently inundated with memecoins, whereas merchants are more and more interested by them. For instance, the group has accrued enormous quantities of Pepe Frog-themed memecoin over the previous few weeks, which in the end induced its worth to drop considerably. Lookonchain, in such a state of affairs, warned its followers in regards to the dangerous nature of memecoins, asking them to maintain their “funds secure.”
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